What is Location in Python?
You can access an object by calling it in the collections (= all things stored in 'bpy.data') 
For example: 

import bpy

cube = bpy.data.objects["Cube"] 


You can search in the console for things you can access from there, like the attributes of the object: i.g. type bpy.data.objects["Cube"]. in the console and press SPACE+. and it will show you all the attributes and methods of this object. One of these is location. 

So to get an objects location: 

cube_loc = bpy.data.objects["Cube"].location


or to set an objects location: 

bpy.data.objects["Cube"].location = (1,1,1)